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- Mental health first aiders at each Go-Ahead bus company trained to provide reassurance and support
- Regional bus and rail companies undertake community initiatives to mark mental health week
- Brighter Journeys campaign aims to lift the spirits of travellers across national rail
- Encouraging underlying financial performance and passenger volume recovery as Go-Ahead emerges from a challenging period
- Group operating profit (before exceptional items*) of £42.6m (H1’21: £56.4m restated). H1'21 included non-recurring items totalling £20.2m**
- Excluding these items, like-for-like operating profit increased by £6.4m, up 17.7%
- Regional Bus reverts to more commercial model as passenger numbers rebuild – currently above 80% of pre-pandemic levels
- Resilient results from London & International Bus
- UK Rail performance primarily reflects end of Southeastern contract
- Management action reduces losses in International Rail
- Statutory profit before tax of £50.1m (H1’21: £50.3m restated) includes a net exceptional credit of £13.0m, primarily relating to the expected
settlement of the financial penalty relating to London & South Eastern Railway and associated matters of concern
- Strong balance sheet and significant liquidity: adjusted net debt of £217.3m (3 July 2021: £305.9m) and available cash and headroom on facilities
of £329.3m (3 July 2021: £240.3m). Adjusted net debt to EBITDA ratio of 1.21x (3 July 2021: 1.56x) providing significant capacity for investment
- Launched new strategy “The Next Billion Journeys” and medium-term financial targets, including growth in Group operating profit to at least £150m
- The Group will reinstate its pre-COVID-19 dividend policy of paying a dividend to shareholders equivalent to between 50% and 75% of underlying earnings per share from the 2022 full year and the board intends to recommend a dividend of not less than 50 pence per share in respect of the year ending 2 July 2022 in line with this policy
- Trading in the second half of the year to date is robust and the Board now anticipates a full year result ahead of its previous expectations
*Before exceptional net credit of £13.0m (H1'21: £4.9m credit). Details are provided in note 5 to the financial statements
**H1'21 included £7.2m of CBSSG funding revenue and a £3.8m performance fee in GTR both relating to the 2020 financial year, and a £9.2m one-off timing benefit relating to Quality incentive
contract (QIC) recognition
- Ticket prices across Cornwall cut by between 20% and 40% from April 10
- Government-backed scheme will measure impact on travel habits across the county over four years
- Visitors to Cornwall will benefit from cheaper buses in tourist areas this summer
The Go-Ahead Group has appointed Martin Dean to become Managing Director, UK Regional Bus, with responsibility for all its bus companies in the UK outside London.
The Go-Ahead Group today sets out a new strategy aimed at delivering profitable growth and a sustainable future for the business in a dynamic market for public transport. The strategy follows a business review led by Christian Schreyer, Group Chief Executive.
The company will reinstate its pre-COVID dividend policy of paying a dividend to shareholders equivalent to between 50% and 75% of underlying earnings per share from FY22. The Board intends to recommend a dividend of not less than 50p in respect of the year ending 2 July 2022 (FY22) in line with this policy.
The Go-Ahead Group today announces that the Department for Transport (DfT) has awarded a National Rail Contract (NRC) to Govia Thameslink Railway (GTR) to continue operating the Thameslink, Southern and Great Northern rail services, the UK’s largest railway network.
- New video spotlights women working across Go-Ahead’s bus and rail operations
- Hundreds of female apprentices recruited during 2021
- 40% of train drivers recruited at GTR in 2021 were female